12th Aug 2020 11:10
(Alliance News) - Grafenia PLC on Wednesday said its loss widened in its most recently-ended financial year as revenue slipped.
The printing business reported revenue for the year to the end of March of GBP15.6 million compared to GBP16.0 million a year earlier, resulting in a pretax loss of GBP3.6 million, widened from GBP3.2 million loss a year earlier.
During the year, Grafenia said it has launched Nettl Works Maker platform to sell third-party products. Nettl partner network now has 239 locations around the world and Nettl company studios sales increased to GBP2.8 million from GBP2.6 million year-on-year.
"The core idea behind Nettl is to help our partners better serve their clients. In the months after the fiscal year-end, Covid-19 has turned our industry on its head," said Chair Jan-Hendrik Mohr.
"When the Nettl idea was conceived, the ability to create websites for clients was an innovative and new tool to offer our partners," added Mohr.
Going forward, the company reiterated its mid-term guidance of 10% to 15% earnings before interest, tax, depreciation and amortization margin.
Grafenia shares were trading flat in London on Wednesday at 7.50 pence each.
By Evelina Grecenko; [email protected]
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